Uniswap community members proposed launching the third version of the decentralized exchange on the Celo network.
We’re exploring the intersection of #crypto & #climate & how protocols can support regenerative finance.
Find out how Blockchain at Michigan, @CeloOrg & Celo Climate Collective are proposing to deploy @Uniswap V3 to add green assets to the Celo Reserve.https://t.co/IjXaWNohvk pic.twitter.com/75EdqIXAZD
— Mercy Corps Ventures (@MCSocialVenture) March 10, 2022
The proposal was created by the student group Blockchain at Michigan in collaboration with the Celo Climate initiative and the non-profit Celo Foundation.
The latter, as part of the partnership, plans to launch a $10 million user incentive program for Uniswap, and also provide the exchange with additional financial support in the future.
Celo is positioned as a “mobile-oriented” and “carbon-negative” blockchain. The EVM-compatible network counts 2.6 million addresses with around 1.1 million daily transactions on average. Through the Mento smart contract platform, the project supports several algorithmic stablecoins.
Deploying Uniswap V3 on the network would involve creating liquidity pools for “green assets” from Celo, such as tokenized carbon credits.
The collaboration is intended to spur future environmental use cases for the exchange, the authors of the proposal noted.
“Overall, we believe that Uniswap’s mission to build a robust and open decentralized financial infrastructure aligns with Celo’s goals of combating climate change and delivering universal prosperity,” they said.
As of writing, holders of 5 million UNI governance tokens have voiced support with almost no objections. The vote is due to end on March 13.
According to the DeFiLlama service, Celo sits 21st in the ranking by value locked in the network’s assets, with around $407 million.
In 2021, the Uniswap community supported the launch of the protocol’s third version on the Ethereum-based second-layer solution Arbitrum.